A City Commercial Bank Internet Financial Transformation Analysis

The technological innovation of the Internet and the changes in the financial environment have pushed the Internet and finance into one another.The result is the emergence and development of Internet finance.Internet finance is a kind of financial institutional change.From a functional perspective,third-party payment,online financial intermediation,online direct sales,and internet financial portals are the four modes of internet finance.These four models have replaced commercial banks to some extent.Payment and settlement,deposit and loan financial intermediation,wealth management and other functions have brought impacts on the operation and management of commercial banks.In the era of Internet finance,the external environment in which commercial banks depend on has undergone systematic changes.Financial disintermediation has intensified and new financial formats have emerged continuously.The development strategies and financial products and services among commercial banks also tend to converge.Faced with the new situation and new challenges,a large number of commercial banks have begun to deploy the Internet finance,trying to go beyond the characteristics and specialization of the Internet finance.In the era of reform,both banks' products and services will undergo qualitative changes.In the crack between large banks and Internet finance companies,how to use Internet finance to embark on a new path and improve the quality of services is a matter for the vast number of city commercial banks to study urgently.The problem.This paper takes A city commercial bank as the research object,and focuses on analyzing the practice of Internet financial transformation of A city commercial bank and the problems it faces in the transition of Internet finance.This article first summarizes the existing literature from the three perspectives of the internet financial connotation,the impact of internet finance on commercial banks,and the commercial banks' strategy of developing internet finance;then,from the payment side,online loan side,and network wealth management side,analyze A city business.Bank internet financial transformation practice;Through field research,we evaluated the A city commercial bank internet financial products from three aspects of product design,marketing,and user experience,and found that A bank internet financial products have serious product homogeneity,and business functions and customer needs are not Problems such as matching,business management and cumbersome operation procedures,and lack of product marketing training channels;Finally,by drawing on the successful experience of domestic and foreign commercial banks in the transformation of Internet finance,combined with A Bank's own operating characteristics,it puts emphasis on customers in its transformation of Internet finance.Experience,improve service quality,simplify business process,increase personalization settings,strengthen cooperation with Internet companies,increase effective product training channels and other rational and targeted countermeasures and suggestions to optimize and promote A City Commercial Bank Networking purpose of financial restructuring.